Comment on NOW Inc. Continues to Feel the Brunt of the Oil Market Downturn

NOW Inc. Continues to Feel the Brunt of the Oil Market Downturn

The first quarter was an extremely difficult one for the energy sector given the collapse of crude during the quarter. That difficulty was reflected in DistributionNOW's (NYSE: DNOW) first-quarter report, which was released before the market opened on Wednesday. The company continues to take advantage of the situation using its strong balance sheet to snap up a growing supply of bolt-on businesses.Drilling down into the numbers NOW's revenue slumped 15% during the quarter, down to $548 million.

 

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